Question
A pottery factory purchases a continuous belt conveyor kiln for $46,000. A 8.7% APR monthly compound loan is taken out to purchase the kiln. If
A pottery factory purchases a continuous belt conveyor kiln for $46,000. A 8.7% APR monthly compound loan is taken out to purchase the kiln.
If the monthly payments are $425, over what term is this loan being paid in monthly payments? (Round your answer to the nearest whole number.)
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
